Newbie in need of some help

[bmd1011]

I'm so glad I found this board, and am looking forward to reading more info, as well as fixing my credit:)

Anyways, I do have a question, and hopefully someone can help me out.

I have a capital one account, which a payment is due today.

I have hit some financial bumps, and am just now getting back on my feet.... My prob with this capital one card, is that due to fees & what not, I am 300 some dollars over my Credit Limit. (A Measly $500).

My minimum payment due today is $133. I do not have the full $133 to pay today, but I don't think it would be agood idea to miss another payment.

What should I do? pay what I can of the $133. If I do this would I still get the $39 late fee?

I've spoke with Cap1 before, and they have credited me for fees, and then I make a payment (say $100) so it makes the minimum payment reduced, but they are saying this can not be done now?

I really would like to get these debts cleared away. I Am concerned with my credit score also, but mainly I would like to get these cards paid off (I have 3 capones w/ $500 limits, and bad credit so I can not get a new card to roll them all into one).

TIA & sorry this message is so long.

[Donna47129]

Hi, and welcome!

First off, a lot of credit card companies will refund fees, but it's usually one-time. They are less forgiving the next time anything happens.

If you don't make an arranged payment on time, I'm sure they'll hit you with the late fees.

Your best bet is to pay them off as soon as you can, because if you default they will let you account sit for awhile, at the same time accruing a bunch of interest and they'll wait until it's over $1000 and then boom, they'll sue.

I'd do whatever it took to get up to date or keep my arrangements with them.

Good luck, and keep your head up...you are on the right track in wanting to get your debts paid. Make timely payments for a while and your credit will slowing get better...it may take a while, but it will be worth it...just try to avoid anything that got you here in the first place...

[bmd1011]

My main question is what do I do about the payment due now? I have the $133 payment due today (which I can't afford) then a $200 some payment due later in the month which I'm not sure what I can afford.

Do I pay a little of that, and still get the missed payment fee or wait until I can afford to pay the full amount of the minimum payment??

Thanks!

[Donna47129]

Hey, I can't tell you where you should put your money because I don't know what your priorities and commitments are...

With that said, why don't you just call up Cap1 and tell them exactly what you posted here, that you don't think you can keep the payment schedule and that you need to make another one. It won't hurt, all they can do is say no, you need to stick to this schedule or get more fees.

Tell them you will make a payment today, but you can't make the whole payment...they "may" renegogiate another schedule.

You have nothing to lose and a piece of mind to gain if you call them. The people on the other end of the line are just people, like you and me, they can't make you do anything and may even sympathize with you, OR even be in the same boat as you!

Just be honest and see where it goes...don't stick your head in the sand or before you know it you'll have compounded fees that you'll never be able to pay off.

[bmd1011]

Thanks so much, I'm about to get off work now, so I will be giving them a call later this afternoon.

[Donna47129]

Thanks so much, I'm about to get off work now, so I will be giving them a call later this afternoon.

You are so welcome...good luck!

[foxhoundme]

Please Help Anyone,

Below are two entries on my credit file and I have successfully paid each of the balances. The one below referenced as Case #1 was paid in full in 2004. Case #2 was paid in full in 2006. How much longer will these entries remain on my file?

Can I dispute that these entries have been paid over four and two years respectively?

Is there something I can do to remove them from my CR?

These reported enteries are coming from the Experian database.

Case #1

Account Name AMEX

Account # XXXXXXXXXXXXXXXXXX

Account Type Credit Card - Revolving Terms

Balance 0

Date Opened 5/1/2004

Account Status Closed

Mo. Payment

Close Account Details Past Due

Payment Status Paid, was a collection account, insurance claim or government claim or was terminated for default

High Balance $1,726.00

Limit

Terms 1 Month

Comments: Credit line closed-grantor request-reported by subscriber.

Case#2

Account Name ABSOLUTE COLLECT SVC

Account # XXXXXXXXX

Account Type Collection Department / Agency / Attorney

Balance 0

Date Opened 10/1/2002

Account Status Closed

Mo. Payment

Close Account Details Past Due

Payment Status Paid, was a collection account, insurance claim or government claim or was terminated for default.

High Balance

Limit

Terms Unknown

[Robert Nashville/Savannah]

Please Help Anyone....

Just a bit of housekeeping...you really should post your questionss in threads you start, esepecially when your questions have nothing to do with the original thread.

In any case, some will say that paid collections will fall off aproximately 7.5 years counted form the DOFD and otherers will say it's 7.5 years from the date the accounts were actually paid.

Of coure, you can dispute at any time and they may well be removed (simply becaue the data furnishers won't bother to validate) but regardless of what date they start counting the 7.5 year period, both of these look too new to me to be removed because of age.

I'd suggest that it's likely that a couple of paid collections that have been paid this long ago are having very little impact on your FICO score.

[foxhoundme]

Thanks Robert_Nashvillexdancex